After Over 2yrs Waiting, CBN Finally Grants 440 Persons and Companies Access to Funds in Their Bank Accounts
- The CBN has asked banks to remove the restrictions it placed on the accounts of individuals and companies
- The restrictions were placed by the now suspended CBN governor, Godwin Emefiele between 2019 and 2021
- The companies affected ranged from bureaux de change, construction firms, investment companies, laundering services, and property companies
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The Central Bank of Nigeria has instructed Nigerian banks to remove the post-no-debit restriction on the bank accounts of 440 individuals and companies.
A post-no-debit means that all debit transactions, including ATMs and cheques, on the accounts have been blocked but can receive inflows.
Source: Facebook
The CBN stated this in a circular signed by A.M. Barau on behalf of the CBN director of banking supervision and released on Tuesday, July 25, 2023.
In the circular, the CBN also instructed banks to notify the concerned customers of the development.
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Part of CBN circular read:
“You are hereby directed to vacate the Post-No-Debit restriction placed on the accounts of the under-listed bank customers at our instance.
“You are also required to inform the concerned customers of the vacation accordingly.”
Some of the companies affected are:
- Bamboo Systems Technology Limited
- Escale Oil & Gas Limited
- Rise Vest Technologies Limited
- Chaka Technologies Limited
- abokiFX Limited
- Nairabet International
- Northwood Energy Services
- Proport Marine Limited
- Bakori Mega Services
- Ashambrakh General Enterprise
- Namuduka Ventures Limited
- Crosslinks Capital and Investment Limited
- IGP Global Synergy Limited
- Davedan Mille Investment Limited
- Urban Laundry
Why did CBN restrict bank accounts
In 2021, CBN under the leadership of Godwin Emeifele instructed banks to freeze the accounts companies, ranging from bureaux de change, construction firms, investment companies, laundering services, and property companies, Punch reports.
Also Legit.ng had earlier reported that the accounts of some individuals believed to be promoters of EndSARS protests were placed on post-on-debits in 2020.
CBN speaks on license status of 2,698 BDCs as Naira falls again
The Central Bank of Nigeria has responded to reports that it withdrew over 2,000 Bureau de Change operators licenses
The reports of withdrawal comes amid the continue depreciation of the naira at the official and black markets
The CBN and the Bureau De Change Operators of Nigeria spoke with Legit.ng to set the records straight
Source: Legit.ng
